The Quarterly Sales Report ChiVonda Wiliams Lorain Context of Case This case involves the vice president of sales at Selit Corp. and his approach at analyzing sales data. Ron Hagler‚ had just received a report on the past five years of quarterly sales data for the regions that he is in charge of. After Ron looks at the sales data‚ he immediately calls a meeting with his regional managers to discuss what he saw. He is correct when he notifies his managers that sales rose and fell during
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Martirosyan Case 1.1 Qt.1 Several parties were responsible for Enron crisis‚ including independent auditor‚ key executive officers‚ internal auditors‚ SEC and FASB. The hypocrisy‚ dishonorable actions and unethical behavior of Kenney Lay‚ Jeffrey Skilling‚ Andrew Fastow led to bankruptcy. This and many other problems‚ such as loss in transactions involving the swaps stocks‚ SPE related issues and est.‚ finally contributed to crisis. As Enron executives‚ all of their concerns should have been focused
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Introduction Enron was one of America’s leading companies prior to its spectacular collapse in 2001. It was frequently named as one of America’s top 10 most admired corporations and best places to work‚ and its board was acclaimed one of the US’ best five‚ according to Fortune magazine. As America’s seventh largest company‚ Enron experienced explosive growth through the 1990s. It had revenues of US$139 ($184) billion‚ US$62 ($82) billion in assets and employed more than 30‚000 people across 20
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1) What did Arthur Andersen contribute to the Enron disaster? Arthur Andersen (AA) contributed to the Enron disaster when it has failed to the management by failing to have Enron establish and enforce its own internal control. There has been flaws to AA‘s internal control. There has been assumption that AA partners were too motivated by revenue recognition thus‚ overlooking several criteria when providing their services to Enron. Additionally‚ AA also recognised the retention of audit clients as
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transaction through its financial subsidiary‚ Generous Motors Credit Company (GMCC). Mead pays no funds to Generous Motors or GMCC until it sells the automobile. Mead must then repay the balance of the loan plus interest to GMCC. How should Mead report the acquisition and repayment transactions in its Statement of Cash Flows? Sample Case 1 Solution: Problem Identification: How should a company report‚ if at all‚ cash and non-cash transactions owed to an entity’s financial subsidiary? Keywords:
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certification of the financial statements and conclude whether its work is effective in preventing major scandals on the lines of Enron and Worldcom. 1.0 ABSTRACT 2.0 ENRON-CORPORATE FIASCOS 3.0 HOW DID THE AUDITORS FAIL TO CATCH PROBLEMS AT ENRON? 4.0 HOW TO PREVENT RECURRENCE OF ENRON? 5.0 NEW RESPONSIBILITIES OF AUDITORS ACCORDING TO SARBANES-OXLEY ACT 2002 6.0 CONCLUSION 7.0 REFERENCES 1.0 ABSTRACT The responsibility of an auditor is to express an opinion on the financial statements based on
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in this case: how did Enron lose both its economical and ethical status? This question makes the Enron case interesting to us as business ethicists. Enron ethics means that business ethics is a question of organizational "deep" culture rather than of cultural artifacts like ethics codes‚ ethics officers and the like. BackgroundAt the beginning Enron faced a number of financially difficulty years. In 1988‚ the deregulation of the electrical power market took effect and Enron redefined its business
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literature review examines and discusses the relationship between corporate social responsibility (CSR) and financial performance of firms in emerging markets through analysis made in relation to developing countries especially Malaysia‚ Indonesia‚ Turkey‚ Dubai‚ China and Brazil. Most of the studies examining the financial performance case for CSR show a positive association between CSR practices and financial performance (63 percent) whilst 15 percent present a negative association and 22
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Enron scandal Enron shocked the world from being “America’s most innovative company” to America’s biggest corporate bankruptcy at its time. At its peak‚ Enron was America’s seventh largest corporation.From the 1990’s until the fall of 2001‚ Enron was famous throughout the business world and was known as an innovator‚ technology powerhouse‚ and a corporation with no fear. The sudden fall of Enron in the end of 2001 shattered not just the business world but also the lives of their employees. Enron
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Enron was a company in the energy industry founded in 1985 by Kenneth Lay. Enron was based in Huston‚ Texas and employed approximately 20‚000 people. In 2001‚ Enron filed for bankruptcy after many years of lying‚ fraud‚ and dishonesty with their financial books. Enron was pretending to be a huge‚ successful company when in reality‚ it was in a financial hole so deep there was no way of getting out. Discuss and analyze the culture at Enron. In what way was it effective? In what ways was it the catalyst
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